Spotify Technology S.A.

NYSE•SPOT

CEO: Mr. Daniel G. Ek

セクター: Communication Services

業種: Internet Content & Information

上場日: 2018-04-03

Spotify Technology S.A., together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers. This segment sells directly to the end users. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its users on their computers, tablets, and compatible mobile devices. The company also offers sales, distribution and marketing, contract research and development, and customer and other support services. Spotify Technology S.A. was incorporated in 2006 and is based in Luxembourg City, Luxembourg.

連絡先情報

5, Place de la Gare, Luxembourg, 1616, Luxembourg

N/A

www.spotify.com

時価総額

$104.92B

PER (TTM)

41.1

81.1

配当利回り

52週高値

$785.00

52週安値

$405.00

52週レンジ

28%

順位53Top 76.1%

2.8

F-Score

改良版 Piotroski 分析

10年ファンダメンタル

弱い • 2.8 / 9 ポイント

スコアレンジ (0-9)

8-9: 価値が優れている

6-7: 基礎体質が強い

4-5: 全体的に堅調

0-3: パフォーマンスが弱い

データ期間: 2016-2025

財務ダッシュボード

Q4 2025 データ

売上高

$5.28B+0.00%

直近4四半期の推移

EPS

$6.65+0.00%

直近4四半期の推移

フリーCF

$992.07M+0.00%

直近4四半期の推移

2025 Annual 決算ハイライト

主なハイライト

Strong Net Income Growth Net income reached €2,212M, a substantial increase from €1,138M in 2024, driven by Premium segment strength.

Total Revenue Rises 10% Total revenue hit €17,186M in 2025, growing 10% compared to 2024, supported by 11% Premium revenue growth.

User Base Expansion Continues MAUs grew 11% to 751 million, while Premium Subscribers increased 10% to 290 million by year-end 2025.

Free Cash Flow Improvement Free Cash Flow increased by €589M to €2,874M in 2025, reflecting strong operating cash flow generation.

リスク要因

Content Licensing Dependency Risks Reliance on third-party licenses means adverse rate changes or disputes, like the MLC lawsuit, could materially harm operations.

Intense Platform Competition Competition from Apple, Alphabet, and Amazon leveraging broader ecosystems creates significant competitive disadvantages.

Evolving Regulatory Environment New laws regarding AI, privacy, and digital services increase compliance costs and operational uncertainty globally.

Currency Fluctuation Exposure Significant foreign exchange volatility, especially involving the USD, negatively impacts reported margins and cost structures.

見通し

AI Integration and Innovation Continued investment in AI initiatives, including launching new features like AI Playlist, to enhance user discovery and personalization.

Content Monetization Diversification Actively expanding monetization efforts across audiobooks and podcasts to offset reliance solely on music streaming revenue.

Optimizing Real Estate Footprint Strategic review resulted in reducing real estate footprint via subleases, funded by current cash flow and assets.

Long-Term Engagement Focus Culture prioritizes long-term user engagement over maximizing short-term revenue or immediate profitability metrics.

同業比較

売上高 (TTM)

$138.19B

+2.5%

$125.65B

+2.7%

CMCSA

$123.71B

-0.0%

粗利益率 (最新四半期)

178.7%

+139.3pp

80.5%

+36.6pp

CMCSA

60.6%

+4.0pp

主要指標

銘柄コード	時価総額	PER (TTM)	ROE (TTM)	負債比率
VZ	$213.54B	12.5	16.6%	49.6%
T	$194.18B	9.0	20.3%	41.4%
CMCSA	$109.90B	5.5	21.0%	40.5%

長期トレンド

直近4四半期

売上高

純利益

営業キャッシュフロー

4四半期売上高CAGR

6.2%

安定成長

4四半期純利益CAGR

79.4%

収益性の大幅な改善

キャッシュフロー安定性

100%

優れたキャッシュフローの実績

深度リサーチ

次回決算:2026年5月5日

EPS:$3.68

売上高:-

財務データ

決算説明会

財務レポート

ニュース

損益計算書

バランスシート

キャッシュフロー計算書

財務比率

変化率

損益計算書	直近12ヶ月

データなし